Episode 2 of 6
Deterioration of colonial debtor-creditor relations
- When
- 1772 – December 1773
- Where
- Thirteen American colonies
- Part of
- Credit Crisis of 1772
The crisis greatly worsened debtor-creditor relations between the thirteen American colonies and Britain, especially in the South.
The credit crisis of 1772 greatly deteriorated debtor-creditor relations between the thirteen American colonies and Britain, especially in the South. As the credit system broke down, bills of exchange were rejected, and almost all heavy gold was sent to Britain in December 1773. The crisis also set off a chain of events related to the controversy over the colonial tea market.
Sources
- British credit crisis of 1772–1773 Wikipedia
Machine-drafted from the cited Wikipedia passages and checked by a reviewing model, not by a human editor. Every passage cites the revision it was written from; dates and places follow those passages.